Fred. Olsen Renewables AS ("FORAS"), a wholly owned subsidiary of Bonheur ASA,
has today entered into an agreement with Hafslund Eco to cooperate as equal
partners on a 50/50 basis on development of offshore wind and transmission
concepts in Norway.

The combination of Hafslund Eco's competences as power producer and grid
operator with FORAS' experience within development of renewable and offshore
projects gives the partnership a unique position to contribute to the
realization of an offshore wind industry in Norway.

The companies will cooperate on submitting a pre-application for development of
offshore wind projects at Sørlige Nordsjø and Utsira Nord, when the offshore
wind areas on the Norwegian Continental Shelf opens up in 2021.

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